Exxon Mobil Corp. is lobbying the Biden administration to allow hydrogen produced from natural gas to qualify for some of the most lucrative subsidies available in the President’s climate law, pushing for billions of dollars in tax credits.
Bloomberg yesterday reported that the company is targeting “key decision makers” in Washington, including Democratic lawmakers, U.S. Treasury Department officials and think tanks, according to an internal memo seen by Bloomberg. Exxon, the report said, is stepping up efforts to ensure that what it dubs as low-carbon natural gas is “properly recognized” by the Biden administration, the memo said.